Update: On February 6, 2018, Golden Dawn Minerals reported that Huakan International Mining, which optioned J&L to Golden Dawn, faced a lawsuit from Armex Mining, which claims it has a valid letter of intent with Huakan concerning J&L. Huakan intends to defend the Armex action, Golden Dawn added.

Calling it one of western Canada’s “largest undeveloped gold mineral resources,” Golden Dawn Minerals TSXV:GOM released a new estimate for J&L, a southern British Columbia project acquired just last month. The company now expects to finish a preliminary economic assessment within five to eight months for a project that will be developed separately from the Greenwood portfolio farther south, where Golden Dawn plans to revive three former mines and a nearby mill.

The highway-accessible property came with a rail siding and loading facility 35 kilometres south in Revelstoke, as well as a 40-person camp, maintenance buildings, workshops and underground mining equipment.

Incorporating lead and zinc grades, the company attributed 1.35 million gold-equivalent ounces to M&I and another 1.07 gold-equivalent ounces to the inferred category.

The four zones comprise Main, Yellowjacket, Hanging Wall and Footwall. Main extends over 1.5 kilometres along strike and 850 metres down dip, remaining open for expansion, the company stated.